The Federal Reserve, the central bank of the United States, provides the nation with a safe, flexible, and stable monetary and financial system.
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Beginning 2011:Q4, unadjusted transactions from BEA, ITA, Table 7.1 U.S. International Financial Transactions for Portfolio Investment, line 26, State and local government securities, long-term debt securities. Prior to 2011:Q4, second quarter stocks outstanding are benchmarked to data on the face value of foreign holdings of U.S. long-term municipal from the Survey of Foreign Portfolio Investment in the United States. Beginning 2012:Q1, revaluations are estimated as the previous stocks outstanding multiplied by the percent change in the Merrill Lynch Municipal Master par weighted price index. Market value stocks outstanding are estimated as the previous stocks outstanding plus the unadjusted transactions and revaluations. Data for the most recent ten years shows no significant seasonality.